Garmin Ltd. (NYSE:GRMN) Shares Purchased by Massmutual Trust Co. FSB ADV

Massmutual Trust Co. FSB ADV lifted its holdings in Garmin Ltd. (NYSE:GRMN) by 17.6% in the 1st quarter, HoldingsChannel reports. The firm owned 542 shares of the scientific and technical instruments company’s stock after purchasing an additional 81 shares during the quarter. Massmutual Trust Co. FSB ADV’s holdings in Garmin were worth $81,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently modified their holdings of GRMN. Wetzel Investment Advisors Inc. bought a new position in shares of Garmin in the fourth quarter worth $26,000. Frazier Financial Advisors LLC bought a new position in shares of Garmin in the fourth quarter worth $33,000. Headinvest LLC bought a new position in shares of Garmin in the third quarter worth $41,000. Blue Trust Inc. grew its stake in shares of Garmin by 35.2% in the fourth quarter. Blue Trust Inc. now owns 380 shares of the scientific and technical instruments company’s stock worth $49,000 after purchasing an additional 99 shares in the last quarter. Finally, Turtle Creek Wealth Advisors LLC bought a new position in shares of Garmin in the fourth quarter worth $51,000. Institutional investors own 73.41% of the company’s stock.

Analyst Upgrades and Downgrades

GRMN has been the subject of several recent analyst reports. Bank of America cut Garmin from a “neutral” rating to an “underperform” rating and decreased their price target for the stock from $165.00 to $150.00 in a research note on Wednesday, May 22nd. StockNews.com raised Garmin from a “hold” rating to a “buy” rating in a research note on Wednesday. Tigress Financial upped their target price on Garmin from $175.00 to $210.00 and gave the company a “strong-buy” rating in a report on Tuesday, May 14th. Barclays increased their price objective on Garmin from $140.00 to $166.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 2nd. Finally, JPMorgan Chase & Co. raised their price target on Garmin from $155.00 to $175.00 and gave the stock a “neutral” rating in a research note on Thursday, May 2nd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $156.83.

Garmin Trading Up 0.9 %

GRMN opened at $161.45 on Friday. The stock’s 50 day simple moving average is $159.47 and its 200-day simple moving average is $141.72. The stock has a market cap of $31.01 billion, a PE ratio of 22.77, a P/E/G ratio of 3.46 and a beta of 0.98. Garmin Ltd. has a 1 year low of $99.61 and a 1 year high of $171.64.

Garmin (NYSE:GRMN) last announced its quarterly earnings results on Wednesday, May 1st. The scientific and technical instruments company reported $1.42 EPS for the quarter, beating the consensus estimate of $1.00 by $0.42. The business had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.25 billion. Garmin had a return on equity of 17.26% and a net margin of 24.96%. Garmin’s quarterly revenue was up 20.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.02 EPS. Equities analysts forecast that Garmin Ltd. will post 5.77 earnings per share for the current fiscal year.

Garmin Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 1.86%. The ex-dividend date of this dividend is Friday, March 14th. Garmin’s dividend payout ratio (DPR) is presently 42.31%.

Insider Activity

In other news, EVP Patrick Desbois sold 4,126 shares of the company’s stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $163.52, for a total transaction of $674,683.52. Following the transaction, the executive vice president now owns 58,412 shares of the company’s stock, valued at $9,551,530.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP Patrick Desbois sold 4,126 shares of the company’s stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $163.52, for a total value of $674,683.52. Following the completion of the sale, the executive vice president now owns 58,412 shares in the company, valued at $9,551,530.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Douglas G. Boessen sold 2,350 shares of the company’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $161.63, for a total value of $379,830.50. Following the completion of the sale, the chief financial officer now owns 28,010 shares of the company’s stock, valued at approximately $4,527,256.30. The disclosure for this sale can be found here. 19.54% of the stock is currently owned by insiders.

Garmin Profile

Garmin Ltd. designs, develops, manufactures, markets, and distributes a range of wireless devices worldwide. Its Fitness segment offers running and multi-sport watches; cycling products; smartwatch devices; scales and monitors; and fitness accessories. This segment also provides Garmin Connect and Garmin Connect Mobile, which are web and mobile platforms where users can track and analyze their fitness, activities and workouts, and wellness data; and Connect IQ, an application development platform.